Linedata to manage employee savings system for S2E coalition

Linedata Services Group, which has been developing and supplying software solutions for employee savings administration for almost twenty years, today announced an agreement in principle with Creelia, Crédit Agricole Asset Management's employee savings arm, and with AXA France, BNP Paribas, HSBC France and Société Générale.

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Under the terms of the agreement, Linedata Services will be acquiring Pacteo, a software package developed by Creelia, who will also continue using it. Once the necessary changes have been made, Linedata Services will integrate the software onto the shared administrative platform of S2E – a joint venture recently set up between AXA France, BNP Paribas, HSBC France and Société Générale, all of which are longstanding clients of Linedata Services.

Linedata Services will be responsible for the maintenance and development of this new solution and will also oversee its commercialization to other employee savings fund managers.

Andrew Watson, Chairman of the Management Board at Creelia, is delighted that "Pacteo will serve as the basis for an information system that is destined to become a leader for the employee savings market, whilst also enabling us to free up resources to best respond to clients' needs."

Nicole Roosz-Longobardi, Chairman of Service Epargne Entreprise, explained that "Through this agreement, S2E will work alongside Creelia and Linedata Services in constructing an NOEE information system to match enterprise and employee expectations."

Anvaraly Jiva, Chairman of Linedata Services' Executive Board adds: "We are very pleased that the major players in the French financial community have chosen to place their trust in Linedata through this agreement which will enable us to cement our presence at the heart of a strategic segment for our Group."

The new information system managed by Linedata Services and henceforth known as NOEE will handle over 6 million employee savings accounts.

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